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Submitted by ctv_en_6 on Sat, 09/18/2010 - 09:37
Vietnam and Russia have agreed early start negotiations on a bilateral Free Trade Agreement (FTA) with the participation of the nations in the Customs Union (Russia, Belarus and Kazakhstan).

The first meeting of the joint working group for the Vietnam-Russia FTA will be held in Hanoi next month to embark on steps needed for the negotiations.

The consensus on this issue was reached at the 14th meeting of the Vietnam-Russian Inter-government Committee for Economic, Commercial, Scientific and Technological Cooperation, which took place in Moscow from September 14-17.

The meeting was co-chaired by Minister of Industry and Trade Vu Huy Hoang, and his Russian counterpart, Viktor Khrristenko.

The two sides focused discussions on ways to step up cooperation in the fields of economy, commerce, science and technology, and raise two-way trade.

Both sides noted with pleasure that economic and trade relations have seen progress since the 12th meeting. Bilateral trade reached a decade-high record of almost US$1.83 billion in 2009, including US$414.89 million from Vietnamese exports.

Vietnam affirmed its desire to cooperate closely and effectively with Russia in energy, with top priority given to oil and gas, and construction of power plants and coal mining.

Other fields that need to receive a boost include mechanical engineering, automobile assembly, trade, finance, banking, education, training, agriculture, science, technology, telecoms, aviation, sports, culture, tourism and space research.

Both sides affirmed the two governments’ support for companies to explore business and investment opportunities in each other’s markets.

They agreed to hold the next meeting in Vietnam next year.

VOVNews/VNA

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